Scandinavia: Cotton Bag Market 2024

Cotton Bag Market Size in Scandinavia

For the third consecutive year, the Scandinavia cotton bag market recorded decline in sales value, which decreased by -2.3% to $X in 2021. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.1% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Cotton Bag Production in Scandinavia

In value terms, cotton bag production rose rapidly to $X in 2021 estimated in export price. In general, production posted resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 107%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Cotton Bag Exports

Exports in Scandinavia

In 2021, the amount of sacks and bags of cotton exported in Scandinavia skyrocketed to X tons, with an increase of 27% against the year before. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 30% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, cotton bag exports soared to $X in 2021. Overall, exports saw prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Denmark (X tons) was the largest exporter of sacks and bags of cotton, achieving 75% of total exports. It was distantly followed by Sweden (X tons), committing a 24% share of total exports.

Denmark was also the fastest-growing in terms of the sacks and bags of cotton exports, with a CAGR of +11.6% from 2012 to 2021. At the same time, Sweden (+9.5%) displayed positive paces of growth. From 2012 to 2021, the share of Denmark increased by +12 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest cotton bag supplier in Scandinavia, comprising 81% of total exports. The second position in the ranking was held by Sweden ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark totaled +25.9%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, increasing by 20% against the previous year. In general, the export price saw strong growth. The most prominent rate of growth was recorded in 2018 an increase of 35%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+12.8%).

Cotton Bag Imports

Imports in Scandinavia

In 2021, after three years of growth, there was significant decline in purchases abroad of sacks and bags of cotton, when their volume decreased by -12.3% to X tons. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 16%. The volume of import peaked at X tons in 2020, and then reduced in the following year.

In value terms, cotton bag imports stood at $X in 2021. Total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 24%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark represented the main importing country with an import of around X tons, which amounted to 52% of total imports. Sweden (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Norway (14%) and Finland (5.5%). Iceland (X tons) took a minor share of total imports.

Imports into Denmark increased at an average annual rate of +4.5% from 2012 to 2021. At the same time, Iceland (+30.9%) and Finland (+11.0%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +30.9% from 2012-2021. Sweden experienced a relatively flat trend pattern. By contrast, Norway (-5.9%) illustrated a downward trend over the same period. While the share of Denmark (+12 p.p.), Iceland (+3.3 p.p.) and Finland (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-5.1 p.p.) and Norway (-13.5 p.p.) displayed negative dynamics.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 90% of total imports. Finland and Iceland lagged somewhat behind, together comprising a further 9.7%.

In terms of the main importing countries, Iceland, with a CAGR of +34.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, increasing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform